Mobile Money: GraceKennedy gets approval from BOJ to launch GK MPay

GraceKennedy Payment Services has been granted a license by the Bank of Jamaica to take its mobile money solution to the public through GraceKennedy Money Services (GKMS) locations island wide.

This comes at the successful conclusion of a nine-month pilot project which registered participation of over 250 internal customers. Branded GK MPay, the service will allow users to pay bills, pay for goods and services at retail locations, top up mobile phones, execute peer-to-peer transactions, among other transactions using their mobile phone. GK MPay will bring a host of payment options, reduce the need to manage large sums of cash on the go, and facilitate payment or money service needs without hassle, in a much shorter time period.

“GK MPay is a world-class service which makes use of the best technology in order to create a “one stop shop” for a range of transactions. This innovative product will help increase financial inclusion, while giving the financially savvy another safe, convenient way to transact business,” said Don Wehby, CEO of GraceKennedy.

He continued: “This move into the mobile payment arena is aligned with our mission to reach customers through the use of multi-payment channels. GraceKennedy is one of the Caribbean’s largest and most dynamic businesses and we continue to strengthen our connection to Jamaica with mobile money as the newest way of achieving that goal.

Mr. Wehby said the launch of GK MPay puts Jamaica ahead of several other countries demonstrating the country’s unlimited potential to thrive in a globally competitive market.

CEO of GKMS Michelle Allen noted, “It is our aim to use GK MPay to ensure financial inclusion and transform the lives of Jamaican men and women who want to engage with other service platforms. Mobile money is easily accessible and can facilitate economic empowerment and economic growth. Our customers will be able to make purchases of goods and services quickly and easily from the jerk chicken man to paying for taxi service in the wee hours of the morning.”

Allen continues “this safe and secure service will allow all users to participate in the latest form of technology which gives them power in the palm of their hands and access anywhere they go.”

GK MPay is safe and secure, and is facilitated on a technology platform developed by Oberthur Technologies (OT), a global leader in embedded security software products and services. “OT is at the forefront of digital payments. OT contributed its expertise, relying on a field of proven, scalable and secure mobile financial services platform” said Pierre Barrial, Managing Director of the Mobile Network Operators unit at OT.

GK MPay will be facilitated on both mobile networks with customers being able to use all smart phones or some basic feature phones.

GK MPay will have access points from GKMS locations across all parishes. To register for GK MPay, customers must take their Taxpayer Registration Number (TRN) and a valid government issued photo identification to any participating GKMS location.

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Kelroy is an internet junkie, technology advocate and avid gamer who envisioned as a Caribbean based technology blog offering a more global view of technology topics. Reach out if you have a guest post or would like to write for us.